Proficient Auto Logistics (NASDAQ:PAL) Trading Up 3.1% - Time to Buy?

Key Points

• Proficient Auto Logistics' shares increased by 3.1% to $6.32, with trading volume down by 23% compared to its average.
• Analyst ratings are mixed, with one firm downgrading the stock to "market perform" while others maintain a consensus target price of $12.50.
• The company has seen recent institutional investment activity, with several firms significantly increasing their holdings in Proficient Auto Logistics over the last few quarters.

Proficient Auto Logistics, Inc. (NASDAQ:PAL - Get Free Report)'s share price was up 3.1% during mid-day trading on Wednesday . The stock traded as high as $6.37 and last traded at $6.32. Approximately 137,621 shares traded hands during trading, a decline of 23% from the average daily volume of 179,698 shares. The stock had previously closed at $6.13.

Analyst Ratings Changes

Several equities research analysts have issued reports on PAL shares. William Blair lowered shares of Proficient Auto Logistics from an "outperform" rating to a "market perform" rating in a research report on Friday, September 12th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Proficient Auto Logistics in a research report on Wednesday, October 8th. Barrington Research reissued an "outperform" rating and set a $12.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, September 23rd. Finally, Stifel Nicolaus set a $13.00 price target on shares of Proficient Auto Logistics in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $12.50.

Proficient Auto Logistics Stock Performance

The business's 50-day moving average is $7.14 and its 200 day moving average is $7.48. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.16 and a quick ratio of 1.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PAL. FNY Investment Advisers LLC bought a new position in shares of Proficient Auto Logistics in the second quarter worth approximately $29,000. Jones Financial Companies Lllp bought a new position in shares of Proficient Auto Logistics in the first quarter worth approximately $73,000. Corebridge Financial Inc. grew its holdings in shares of Proficient Auto Logistics by 33.6% in the first quarter. Corebridge Financial Inc. now owns 10,409 shares of the company's stock worth $87,000 after purchasing an additional 2,619 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Proficient Auto Logistics by 44.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,506 shares of the company's stock worth $105,000 after purchasing an additional 3,866 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Proficient Auto Logistics in the first quarter worth approximately $111,000.

Proficient Auto Logistics Company Profile

Proficient Auto Logistics, Inc focuses on providing auto transportation and logistics services in North America. It primarily focuses on transporting and delivering finished vehicles from automotive production facilities, ports of entry, and rail yards to a network of automotive dealerships. The company operates approximately 1,130 auto transport vehicles and trailers, including 615 company-owned transport vehicles and trailers.

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